This Formal Risk Management Plan Facilitation includes:
Review of existing risk library, including risks identified by staff, Board and stakeholders
Development of a comprehensive and manageable risk ranking system for all of the organization's identified risks
Development of a compliance register for risk
Development of definitions of risk rankings
Development of comprehensive risk management strategies for all of the identified high priority risks, including project plans (timelines and success measures) for all identified major risks
Development of an electronic template to manage and monitor risks
Analysis of ethical issues and strategic opportunities for all identified major risks
Upskilling of the CEO/senior staff by the external consultant in all areas of risk management to ensure future programs are analysed, ranked and strategies put in place
Upskilling of the Board by the external consultant in regards to embedding risk reports into the Audit committee agenda, Board agenda and evaluation processes
Capacity will be built through the upskilling of the CEO, staff and the Board. As well as the benefits outlined in the objectives, this facilitation will assist in more effective strategic planning via an increased understanding of the environmental factors potentially affecting the organisation, the strategies to address these environmental impacts, the development of action plans and contingency plans, and the development of formal reporting and accountability measures as part of the risk management process.
Once all programs are analysed and a comprehensive risk management library has been developed, risk management procedures for new projects, strategic directions, planning and reporting processes can be embedded into usual practice by the CEO, staff and Board.
Why Conscious Governance
Steven Bowman was responsible for the Victorian Government auspiced Review of Risk Management for the Adult and Community Education sector, and is also a much sought after speaker on the topic of risk management throughout the world.
He has published a number of books and articles on the subject, and is an advisor on risk to some of Australia's largest listed corporates and nonprofit organisations.